Common use of Interest Reserve Clause in Contracts

Interest Reserve. The Borrower shall be required, as of the Closing Date and as of each Payment Date thereafter, to maintain on reserve in a segregated trust account at Account Bank held in the name of Borrower, for the benefit of the Lenders (with account number ending in 6-001 as of the Closing Date) (the “Interest Reserve Account”), an amount, determined as of the date of submission of the initial Borrowing Request and then as of the date of delivery of each Manager Report thereafter, equal to interest on the Facility for the succeeding three (3) months of interest, pro-forma for the then-current drawn amount as of such date of determination based on the less of (a) the amount of interest that would accrue on such pro-forma outstanding amount of Loans, assuming such Loans are Term SOFR Loans with an Interest Period of three (3) months commencing on such date of determination and (b) the amount of interest that would accrue on such pro-forma outstanding amount of Loans, assuming such Loans accrue interest at the applicable strike rate for the Interest Rate Protection Agreement as of such date of determination (the “Interest Reserve Required Amount”). Such Interest Reserve Account shall be funded in connection with each borrowing of Loans and refilled in accordance with the Priority of Payments as of each Payment Date to the extent the amount on deposit as of such date is less than the Interest Reserve Required Amount. The Borrower may deposit additional amounts into the Interest Reserve Account beyond the Interest Reserve Required Amount at its option on the Closing Date and thereafter from time to time prior to the expiration of the Delayed Draw Availability Period. On any date that the amount on deposit in the Interest Reserve Account is greater than the Interest Reserve Required Amount, such excess amount may be withdrawn from the Interest Reserve Account in the Borrower’s (or the Manager’s on its behalf) discretion and deposited into the Facility Collection Account for distribution in accordance with the Priority of Payments on the next applicable Payment Date. In the event that on any Payment Date, the amount on deposit in the Facility Collection Account available pursuant to Section 2.8(c) is insufficient for the payment of accrued interest payable on such Payment Date, the Account Bank pursuant to the Manager Uniti – Bridge Loan and Security Agreement Report shall withdraw from the Interest Reserve Account an amount equal to the lesser of (x) the amount of such insufficiency and (y) the amount on deposit therein, and shall apply such funds in accordance with Section 2.8(c).

Interest Reserve. The Borrower shall be required, as of the Closing Date and as of each Payment Date thereafter, to maintain on reserve in a segregated trust account at Account Bank held in the name of Borrower, for the benefit of the Lenders (with account number ending in 6-001 as of the Closing Date) (the “Interest Reserve Account”), an amount, determined as of the date of submission of the initial Borrowing Request and then as of the date of delivery of each Manager Report thereafter, equal to interest on the Facility for the succeeding three (3) months of interest, pro-forma for the then-current drawn amount as of such date of determination based on the less of (a) the amount of interest that would accrue on such pro-forma outstanding amount of Loans, assuming such Loans are Term SOFR Loans with an Interest Period of three (3) months commencing on such date of determination and (b) the amount of interest that would accrue on such pro-forma outstanding amount of Loans, assuming such Loans accrue interest at the applicable strike rate for the Interest Rate Protection Agreement as of such date of determination (the “Interest Reserve Required Amount”). Such Interest Reserve Account shall be funded in connection with each borrowing of Loans and refilled in accordance with the Priority of Payments as of each Payment Date to the extent the amount on deposit as of such date is less than the Interest Reserve Required Amount. The Borrower may deposit additional Uniti – Bridge Loan and Security Agreement #97751373v29 amounts into the Interest Reserve Account beyond the Interest Reserve Required Amount at its option on the Closing Date and thereafter from time to time prior to the expiration of the Delayed Draw Availability Period. On any date that the amount on deposit in the Interest Reserve Account is greater than the Interest Reserve Required Amount, such excess amount may be withdrawn from the Interest Reserve Account in the Borrower’s (or the Manager’s on its behalf) discretion and deposited into the Facility Collection Account for distribution in accordance with the Priority of Payments on the next applicable Payment Date. In the event that on any Payment Date, the amount on deposit in the Facility Collection Account available pursuant to Section 2.8(c) is insufficient for the payment of accrued interest payable on such Payment Date, the Account Bank pursuant to the Manager Uniti – Bridge Loan and Security Agreement Report shall withdraw from the Interest Reserve Account an amount equal to the lesser of (x) the amount of such insufficiency and (y) the amount on deposit therein, and shall apply such funds in accordance with Section 2.8(c).

Interest Reserve. The Borrower shall be required, as of acknowledges that the Closing Date and as of each Payment Date thereafter, to maintain Aggregate Commitment includes a reserve for interest due on reserve in a segregated trust account at Account Bank held the Loan (the "Interest Reserve") in the name of Borrower, for amount set forth in the benefit of the Lenders (with account number ending in 6-001 as of the Closing Date) (the “Interest Reserve Account”), an amount, determined as of the date of submission of the initial Borrowing Request and then as of the date of delivery of each Manager Report thereafter, equal to interest on the Facility for the succeeding three (3) months of interest, pro-forma for the then-current drawn amount as of such date of determination based on the less of (a) the amount of interest that would accrue on such pro-forma outstanding amount of Loans, assuming such Loans are Term SOFR Loans with an Interest Period of three (3) months commencing on such date of determination and (b) the amount of interest that would accrue on such pro-forma outstanding amount of Loans, assuming such Loans accrue interest at the applicable strike rate for the Interest Rate Protection Agreement as of such date of determination (the “Interest Reserve Required Amount”)Budget. Such Interest Reserve Account shall be funded in connection with each borrowing of Loans and refilled in accordance with the Priority of Payments as of each Payment Date Subject to the extent the amount on deposit as of such date is less than limitations set forth below, Administrative Agent shall disburse and charge the Interest Reserve Required Amount. The Borrower may deposit additional amounts into for interest due under the Notes on the Interest Reserve Account beyond the Interest Reserve Required Amount at its option on the Closing Date Payment Dates and thereafter for any payments due from time to time prior Borrower to the expiration of the Delayed Draw Availability PeriodLender Swap Providers under any Lender Swap Agreement. On any date that the amount Such disbursements shall be made by a bookkeeping entry on deposit in the Interest Reserve Account is greater than the Interest Reserve Required AmountAdministrative Agent's and each Lender's records reflecting, such excess amount may be withdrawn from the Interest Reserve Account in the Borrower’s (or the Manager’s on its behalf) discretion and deposited into the Facility Collection Account for distribution in accordance with the Priority of Payments on the next applicable Payment Date. In the event that on any Payment Date, the amount on deposit in the Facility Collection Account available pursuant to Section 2.8(c) is insufficient for the payment of accrued interest payable on such Payment Date, the Account Bank pursuant to the Manager Uniti – Bridge Loan and Security Agreement Report shall withdraw from the Interest Reserve Account an amount equal to the lesser accrued interest due and payable on the relevant payment date which shall be set off against any amounts owed such parties by Borrower under any Lender Swap Agreement. Borrower agrees that although such payments for amounts owed under the Lender Swap Agreements will be charged against the Interest Reserve, such payments shall in no event constitute or be characterized as interest under this Agreement or otherwise. Borrower shall cause the Lender Swap Providers to pay to Administrative Agent, for application towards interest owed hereunder, all amounts due Borrower under any Lender Swap Agreement. Any such funds disbursed in the manner provided in this Section shall be deemed paid to and received by Borrower, shall be added to the outstanding principal balance of the Loan and the Aggregate Outstanding Credit Exposure and shall bear interest at the rate set forth in this Agreement. It is understood and agreed that no Lender shall be obligated to disburse any portion of the Interest Reserve at any time when any condition to the making of an advance of the Loan is not satisfied (x) except that the amount Lenders shall have the right to fund such interest from the Interest Reserve even if no Draw Request has been submitted to or approved by the Lenders or Administrative Agent). In the event the Lenders are not obligated to disburse out of such insufficiency and (y) the amount on deposit thereinInterest Reserve as aforesaid, and for any remaining portion of interest due on the Loan, Borrower shall apply such funds in accordance with Section 2.8(c)be responsible for the current payment of interest on the Loan from Borrower's own funds.

Interest Reserve. The Borrower Lender shall be required, as allocate the sum of $0.00 of the Closing Date and ---------------- Loan to an interest reserve (the "Interest Reserve") to ensure payment by Borrower of the interest due to Lender under the Loan. Lender shall disburse from the Interest Reserve such amounts as may be necessary to pay interest on the Loan on the first banking Business Day of each Payment Date thereafterrespective month that the same becomes due under the terms of the Note, unless Borrower elects to maintain on reserve pay such interest in a segregated trust account at Account Bank held cash when due. It is understood that as long as there are sufficient funds in the name Interest Reserve, Borrower has the option of not paying such interest in cash, but rather of having such interest paid from the Interest Reserve and the amounts thus disbursed added to the outstanding amount of the principal of the Loan. This option is given at Borrower, 's request and for the benefit of Borrower and shall be deemed to have been exercised by Borrower without the Lenders (with account number ending in 6-001 as necessity of further documentation on each interest payment date during the Closing Date) (period that the “Interest Reserve Account”), an amount, determined as of the date of submission of the initial Borrowing Request and then as of the date of delivery of each Manager Report thereafter, equal to has sufficient funds. At any time that interest payments on the Facility Loan shall be due, Lender shall xxxx Borrower for the succeeding three (3) months of interest, pro-forma for the then-current drawn amount as of such date of determination based on the less of that interest and Borrower may either (a) pay the interest and request Lender to reimburse Borrower for any such Interest so paid from, the Interest Reserve and charge Borrower's account therefor, or (b) request Lender to advance any such amount of interest that would accrue on such pro-forma outstanding amount of Loans, assuming such Loans are Term SOFR Loans with an Interest Period of three (3) months commencing on such date of determination and (b) the amount of interest that would accrue on such pro-forma outstanding amount of Loans, assuming such Loans accrue interest at the applicable strike rate for due to itself from the Interest Rate Protection Agreement as Reserve and simultaneously charge Borrower's account therefor. Before any default in any of such date the terms, covenants, and provisions of determination (any of the “Interest Reserve Required Amount”). Such Interest Reserve Account shall be funded in connection with each borrowing of Loans documents evidencing and refilled in accordance with securing the Priority of Payments as of each Payment Date Loan, Lender shall, to the extent the amount on deposit as of such date is less than the Interest Reserve Required Amount. The Borrower may deposit additional amounts into the Interest Reserve Account beyond the Interest Reserve Required Amount at its option on the Closing Date and thereafter from time is sufficient, either (a) advance any such amount of interest due to time prior to the expiration of the Delayed Draw Availability Period. On any date that the amount on deposit in the Interest Reserve Account is greater than the Interest Reserve Required Amount, such excess amount may be withdrawn itself from the Interest Reserve Account in the and simultaneously charge Borrower’s 's account therefor, or (or the Manager’s on its behalfb) discretion and deposited into the Facility Collection Account for distribution in accordance with the Priority of Payments on the next applicable Payment Date. In the event that on any Payment Date, the amount on deposit in the Facility Collection Account available pursuant to Section 2.8(c) is insufficient for the payment of accrued interest payable on such Payment Date, the Account Bank pursuant to the Manager Uniti – Bridge Loan and Security Agreement Report shall withdraw reimburse Borrower from the Interest Reserve Account an amount equal to for any interest paid by Borrower, as may be requested by Borrower under the lesser of (x) the terms hereof. The amount of the each payment out of the Interest Reserve shall increase in respective amounts the then-outstanding principal balance due on the Loan. When and if such insufficiency and (y) Interest Reserve is depleted, all monthly interest payments shall be paid by Borrower in cash. If at the amount on deposit thereintime the Final Advance under Paragraph 4.4 hereof is made there remain undisbursed amounts in the Interest Reserve, and such amounts shall apply such funds in accordance with Section 2.8(c)be disbursed to Borrower as part of the Final Advance.